It is that dreadful time of the year again when all car companies announce hefty price hikes. Pak Suzuki Motor Company (PSMC) has taken the lead here with price hikes ranging from Rs. 29,000 to Rs. 150,000.
Effective immediately, the following are the new prices of all the locally assembled PSMC vehicles:
|Variants||Old Price (Rs.)||New Prices (Rs.)||Increase (Rs.)|
|Wagon R VXR||1,760,000||1,877,000||117,000|
|Wagon R VXL||1,852,000||1,975,000||123,000|
|Wagon R AGS||2,024,000||2,158,000||134,000|
The price hikes are attributed to the recent 2.5 percent increase in the Federal Excise Duty (FED) on locally assembled vehicles up to 1300cc. These new rates have been imposed by the government as a part of the mini-budget that is intended to reduce the imports of the auto sector and to enable the local manufacturing of vehicles.
Other automakers are expected to follow suit and create another wave of price hikes that will put a damper on the continuous surge in the demand for cars.